No, because:
- It's played more for laughs than the dead-serious pride and glory that Sasuke is played for.
- Don't know which episode you watched, but each round in Wipeout guarantees advancement to the top 12/6/4 players. Sasuke makes no such guarantees, and frequently ends without anyone reaching the final stage.
- Wipeout allows you to continue past (or at least restart) an obstacle regardless of how many falls you have, provided you don't time out or there's still a vacancy for the next round available. In Sasuke, if you so much as dip your toe into a water pit below you, you're out of the challenge.
- Consequently, the obstacles on Wipeout are designed to encourage smacks and falls, with no realistic expectation of someone clearing them unless they luck out. (Witness the wall obstacle in the first round of last night's Wipeout). Sasuke's obstacles are designed to be physically demanding, but there are no random events or other distractions, so even though the obstacles are incredibly hard they can be beaten through skill alone.
That's like saying Finding Nemo and Jaws are the same because both involve fish.